The decline and fall of General Electric, the poster child of Obamanomics
by Timothy P. Carney | Jan 23, 2018, 11:07 PM
Sometimes we look back a decade or so and reconsider our word choice. For instance, I used to call General Electric — with its heavy lobbying, its intimate ties to the White House, all its bets on green energy, on embryonic stem cells, on Obamacare, on industrial policy — the “for-profit arm of the Obama administration.”
Those words were ill-chosen. Specifically, in describing GE, it was a mistake to use the word “profit.”
No company has spent as much on U.S. lobbying since 2000 as General Electric. And no component of the Dow Jones Industrial Average has performed worse since 2000 than General Electric......
http://www.washingtonexaminer.com/the-decline-and-fall-of-general-electric-the-poster-child-of-obamanomics/article/2646900
How true is this? Is this why the layoffs coincided with the change in Washington DC? Was the previous administration allowing GE to slide on compliance while giving it some operating cash under the radar? I think that's hogwash. Not very true at all.